COVID-19 ACCELERATES LONG-TERM CONSUMER CHANGE, BUT BRANDS RISK BEING LEFT BEHIND, ACCORDING TO NEW DENTSU RESEARCH
Published on:
- New report examines the long-term consumer trends out to 2030 and the impact of the pandemic
- Tech-enabled health and well-being set to be the main goal of all consumers out to 2030
- Nearly half (46%) of Chinese consumers would likely use a single company for all their lifestyle needs
- Environmental concerns have increased during the pandemic, catalysing a new wave of consumer activism
- COVID-19 has fuelled appetite for eSports and virtual gaming as consumers worry about mass gatherings
- Many brands will be challenged by the growing power of online retailers
Shanghai, 31 March 2021: Today sees the launch of the dentsu consumer vision ‘The Age of Inclusive Intelligence’, which charts the long-term consumer trends that will shape the next decade. The research shows how the pandemic has accelerated many of the long-term trends facing brands, drawing on in-depth interviews with world-renowned futurists, academics, authors and experts, together with multiple proprietary consumer surveys.
Health and well-being is a key theme throughout the report, with many consumers reporting a desire to utilise technology to stay healthy in the future. More than half of US consumers report they would insert a microchip in their brain in order to extend their life expectancy. Furthermore, as policymakers assess the psychological fallout from the pandemic, one third of consumers say that by 2030 they would undergo non-essential surgery to improve their mental health.
On climate change, 77% of UK consumers say that COVID-19 has made them more aware of the harm caused to the environment by global travel. Longer term, this is fuelling greater consumer activism with purchasing decisions increasingly based on social issues. Two-thirds of UK consumers say that by 2030 they will not buy goods that they know have a negative impact on the environment.
Similarly, with more people staying at home during lockdown, the growing popularity of eSports and online gaming has accelerated. As global awareness of eSports is expected to reach two billion by 2021, the way we look at sport in general will continue to evolve with ‘real-world’ sports and activities being forced to innovate to keep up.
Furthermore, as online retailers grow in size and scope—fuelled by the growth in ecommerce during the pandemic—many brands will find themselves struggling for visibility. The research finds that nearly half (46%) of Chinese consumers would already be happy to use just one single company for all their lifestyle needs.
On the launch of the report, Wendy Clark, Global CEO, dentsu international said: “What is very clear from the past year and the findings of dentsu consumer vision 2030 is business leaders must prepare for a very different consumer landscape. One which is continually evolving via innovation in technology, health and well-being, activism, and climate change. Leading brands will use this information and inclusive intelligence to build human-centric experiences and relationships to meet these consumer expectations.”
Commenting on the key takeaways for brands from this report, Terrence Yung, CEO of Media, dentsu China said:” In this report, our recommendations for brands across each trend is to help brands develop what we call ‘inclusive intelligence’—the ability to incorporate new views, values and behaviours into their value proposition. At dentsu, we believe building inclusive intelligence starts with superior consumer understanding and this will be the critical quality for brands in China to differentiate and shape their future.”
The dentsu consumer vision report is available for download here.
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MEDIA CONTACT:
Angela May Tan
Regional Communications, Asia Pac
E: angelamay.tan@dentsu.com
EDITORS NOTES:
Methodology
The dentsu consumer vision has been developed with the support of Foresight Factory, a leading consumer trends agency. Analysis draws on different sources:
• Expert interviews: A panel of some of the world’s foremost futurists, academics, authors and experts to help identify our trends.
• Primary consumer surveys: Proprietary consumer surveys from both Foresight Factory and dentsu, covering 20+ countries and more than 30,000 people, conducted online in 2020.
• Innovation and patent scan: A thorough review of upcoming and possible
industry, technological and scientific advances over the coming decade.
• SME workshops: Interactive workshops were conducted with dentsu experts
across creative, media and CXM.
About dentsu International
Part of dentsu, dentsu international is made up of six leadership brands - Carat, dentsu X, iProspect, Isobar, dentsumcgarrybowen and Merkle, all of which are supported by its specialist divisions. Dentsu International helps clients to win, keep and grow their best customers and achieve meaningful progress for their businesses. With best-in-class services and solutions in media, customer experience management (CXM), and creative, dentsu international operates in over 145 markets worldwide with more than 45,000 dedicated specialists.